VSM Wealth Advisory LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

VSM Wealth Advisory LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 700 shares of the utilities provider’s stock, valued at approximately $59,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after purchasing an additional 49,285 shares during the period. FMR LLC grew its stake in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after buying an additional 877,345 shares during the last quarter. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group in the 4th quarter valued at about $376,209,000. Jennison Associates LLC lifted its position in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after acquiring an additional 1,882,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Public Service Enterprise Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock worth $256,012,000 after acquiring an additional 78,452 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.3 %

Shares of NYSE PEG opened at $83.21 on Thursday. The firm has a 50 day moving average price of $83.57 and a two-hundred day moving average price of $86.02. The stock has a market cap of $41.48 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $63.54 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PEG shares. Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.27.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.